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Considering immigrant earnings in the context of post-arrival human capital investment implies: cohort quality should … be defined in terms of the present value of the whole earnings profile; and, an appropriate definition of macro effects … is obtained using the earnings profile of the native born cohort entering the labour market at the same time as an …
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This paper reviews and synthesizes the literature on the macroeconomic implications of human capital theory. I begin with a review of the canonical model of education and the wage structure pioneered by Tinbergen (1975) and developed more fully by Goldin and Katz (2007). I also review...
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This paper calculates new measures of human capital. Contrary to the existing literature, they are based on realistic rates of return to education, which are allowed to vary substantially across countries and to some extent over time. The new measures perform well in regression analysis...
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